A large part of the debate on Latin American debt issuance will be resolved by what happens to the high level of liquidity that is available to Latin American issuers today when higher yields are available from the developed markets, and in particular in the US. Will the demand from international investors rotate back into developed market assets or will it stay emerging market focused?
Mark Howard, managing director and head of US credit strategy for BNP Paribas Securities in New York, believes that the shift into emerging markets and Latin America from international fixed-income investors is a secular trend.
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